Sirius Real Estate has completed the acquisition of the Hartlebury Trading Estate in Worcestershire for £101.1 million ($136 million), excluding acquisition costs.
It has been acquired with 84 percent occupancy, with the majority of vacant space either recently refurbished or newly built, presenting attractive reversionary opportunities.
Hartlebury Trading Estate is set on a vast 171-acre site comprising a freehold multi-let industrial park with approximately 1.5 million square feet of predominantly warehouse accommodation, alongside 17 acres of industrial open storage plots. Sirius has already identified a number of opportunities to increase income, in line with its value-added asset management strategy, including environmentally focused upgrades in the near term.
It has low building coverage of only 19 percent and configured in a way that allows it to be separated into three separate estates. Hartlebury Trading Estate offers plenty of asset management opport
